The Certificate in Management Accounting (CMA) is not required to work as a management accountant, however, it is an important credential for management accountants to have. This designation was first established in 1972 to recognize the special needs of management accountants. The CMA exam is sponsored by the Institute of Management Accountants (IMA) and is given twice yearly in June and December. In some ways, this exam may be more difficult than the CPA exam because it covers a broader range of areas, among them economics, statistics, banking, and finance. The 5 parts of the exam are as follows:
1.Economics and Business Finance (3 1/2 hours)
2.Organization and Behavior, including Ethical Considerations (3 1/2 hours)
3.Public Reporting Standards, Auditing, and Taxes (3 1/2 hours)
4.Internal Reporting and Analysis (3 1/2 hours)
5.Decision Analysis, including Modeling and Information Systems (3 1/2 hours)
To obtain an application and registration forms for the CMA exam, write to:
The Institute of Management Accountants
10 Paragon Drive
Montvale, New Jersey 07645-0405
Tel. (201) 573-6300